violator 11:53 Wed Dec 15
Turkey
|
|
Dunno if anyone else has a holiday booked to Turkey next year, but the Lira is currently tanking and is almost 19TL to the £, normally its around 8TL. If it does drop to normal levels by the summer you can double your dough now, if it doesnt then you aint lost anything. Anyone know why its gone mental, and the likelihood of it dropping back?
|
|
|
Replies - Newest Posts First ( Show In Chronological Order)
Sydney_Iron
11:45 Tue Dec 21
Re: Turkey
|
Always reminds me of Bernard Mathews.
|
,
10:59 Tue Dec 21
Re: Turkey
|
Soon you’ll be able to buy the real stuff as cheap as the good fakes are.
|
Wilko Johnson
7:18 Tue Dec 21
Re: Turkey
|
https://youtu.be/MHiGT_odU2Y
|
tobster
3:27 Mon Dec 20
Re: Turkey
|
Me and the family will come back from turkey head to toe in Gucci now
|
pdcwhu
3:24 Mon Dec 20
Re: Turkey
|
Love Stuffed Turkey
|
tobster
3:21 Mon Dec 20
Re: Turkey
|
Buy buy buy!
23 today isn’t it?
Where is the best place to get it?
I’m going in may and might as well get some now.
|
violator
1:20 Sat Dec 18
Re: Turkey
|
Almost at 21 today, to buy or not to buy
|
Iron Duke
7:59 Wed Dec 15
Re: Turkey
|
When I went in 1999 it was 750,000 to the pound. When I went again a few years ago everything was in euros.
I’m not sure if this is any help, but my advice is to steer clear of their currency, because even they think it is shite.
|
Wils
6:11 Wed Dec 15
Re: Turkey
|
I wouldn't speculate with it. It's not bitcoin. Inflation is about 15%. It will at least track that.
|
violator
5:41 Wed Dec 15
Re: Turkey
|
Might just get £500 worth for now, if it drops back to 10TL I've had a result, if it doesn't then its no big deal. If it goes over 30 TL I'll blame Mrs V
|
Wils
5:08 Wed Dec 15
Re: Turkey
|
WHU(Exeter) wrote...
"Wils, which part do you visit?"
Always, Istanbul. I have in-laws there. Yes, you are right, you can eat well very cheaply indeed. My point was as the currency devalues it doesn't necessarily make what you were buying before cheaper.
The cheap restaurants in Instanbul, of which there are many, will be as cheap if not cheaper but not by as much as the devaluation might lead you to expect.
|
gph
5:06 Wed Dec 15
Re: Turkey
|
" Anyone know why its gone mental"
I blame their christians.
I heard they voted for Christmas.
|
WHU(Exeter)
5:02 Wed Dec 15
Re: Turkey
|
Wils, which part do you visit?
usually go to Istanbul a couple times a year, agree that there are places that'll charge high prices, but equally a lot of really good restaurants there for a lot less? depends on what kind of food you're going for as well I suppose, the fish places can be expensive still
|
Wils
4:29 Wed Dec 15
Re: Turkey
|
The reason the currency is devaluing is inflation is rampant and, as others have said, Erdogan is refusing to raise interest rates to fight it.
But you need to realise that prices are rising almost in sync with the currency devaluing. Things will feel a bit cheaper but don't expect things to be half price. You won't really notice the difference. I go there every 6 months or so and I remember the currency being almost 2 to the pound. I was there in October and it was about 14 to the pound, but a meal for 2 in a fancy restaurant in Istanbul still cost me £160. Similar to here.in London.
|
Dazman
2:25 Wed Dec 15
Re: Turkey
|
I was in Turkey last summer, think it was around the 10TL/£.
It got to the point where everywhere we went didnt accept TL anymore, wanted either €'s or £'s.
|
eastend joker
12:59 Wed Dec 15
Re: Turkey
|
They have previous in devaluing the lire .
|
goose
12:58 Wed Dec 15
Re: Turkey
|
loads of property in turkey currently being sold to foreigners at the moment.
Erdogan has said if you buy a place for more than £250k you can also have a passport.
|
WHU(Exeter)
12:22 Wed Dec 15
Re: Turkey
|
(buy a decent backgammon set, flog it on e-bay....big chunk of your holiday paid for)....
|
WHU(Exeter)
12:19 Wed Dec 15
Re: Turkey
|
To answer your question though Violator, it's been goin on steadily for a while now, so can't see the rate getting back to anything like 8TL by March.
You could do what you're planning now, but then the rate could continue to rise further?
maybe just keep an eye on it for the next couple months before deciding either way?
|
BRANDED
12:18 Wed Dec 15
Re: Turkey
|
what if it tanks to 500 with raging inflation?
|
WHU(Exeter)
12:15 Wed Dec 15
Re: Turkey
|
it's what Mr K said.
Erdogan hasn't listened to any of his finanace ministers, I think he's got rid of quite a few in a very short period, and is hell bent on maintaining policies that defy all normal and widely accepted rules of economics.
He keeps pushing interest rates down but that just keeps increasing inflation - i'm pretty sure what he's doing is akin to what former presidents did before there decades ago when it led to military coups.
going to Istanbul in April and there's some brilliant little cafes that do amazing food...at this rate think we'll be able to eat out and have a couple pints each for a tenner...
|
| 
